Ellis Investment Partners LLC Boosts Stake in Helmerich & Payne, Inc. (NYSE:HP)

Ellis Investment Partners LLC increased its position in Helmerich & Payne, Inc. (NYSE:HP) by 12.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,778 shares of the oil and gas company’s stock after purchasing an additional 989 shares during the period. Ellis Investment Partners LLC’s holdings in Helmerich & Payne were worth $318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Greylin Investment Management Inc raised its stake in Helmerich & Payne by 175.1% during the 4th quarter. Greylin Investment Management Inc now owns 15,777 shares of the oil and gas company’s stock valued at $571,000 after acquiring an additional 10,041 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Helmerich & Payne during the 4th quarter valued at approximately $318,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Helmerich & Payne by 43.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,080 shares of the oil and gas company’s stock valued at $2,357,000 after acquiring an additional 19,580 shares during the last quarter. New York State Teachers Retirement System raised its stake in Helmerich & Payne by 20.3% during the 4th quarter. New York State Teachers Retirement System now owns 159,405 shares of the oil and gas company’s stock valued at $5,774,000 after acquiring an additional 26,914 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in Helmerich & Payne by 6.1% during the 4th quarter. Fulton Bank N.A. now owns 9,770 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 566 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HP shares. Benchmark downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Friday, January 12th. Royal Bank of Canada boosted their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Susquehanna boosted their target price on Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Finally, Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $41.79 on Friday. The business’s fifty day moving average price is $40.09 and its two-hundred day moving average price is $38.69. The stock has a market cap of $4.13 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 9.19 and a beta of 1.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11. Helmerich & Payne, Inc. has a one year low of $30.41 and a one year high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. Helmerich & Payne’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. On average, analysts forecast that Helmerich & Payne, Inc. will post 3.47 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is presently 23.87%.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.